The target market is group of consumers a company targets for marketing and sales purposes and analysis of target market helps in identifying prospect customers of a product. The group of consumers is identified through demographic, economic and psychographic analysis.
Target markets are identified by matching needs of specific consumers to characteristics and features of a product (Abrams & Kleiner, 2003). Our target market is identified through economic and demographic analysis of consumers and includes individuals belonging to the upper and upper middle class. The flat panel plasma TV would be promoted as a symbol of elegance therefore we will target consumers with who are status conscious and seek sophistication and classiness in products they own.
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